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Katena32 [7]
3 years ago
7

The employees of Vintage Clothes achieved all of the sales goals for 2017. Vintage decides to reward the employees with a bonus

of​ 20% on annual net​ income, after deducting the bonus. The net income before the calculation of the bonus is​ $312,000. What is the amount of the​ bonus? (Round your final answer to the nearest​ dollar.)
Business
1 answer:
Elza [17]3 years ago
7 0

Answer:

$52,000

Explanation:

Bonus is 20% on annual net​ income, after deducting the bonus.

Let the annual income after deducting bonus be g

Then,

Bonus = 20% of g

           = 0.2g

Annual income before bonus = annual income after bonus + bonus

312,000 = g + 0.2g

g = 312000/1.2

g = $260,000

Bonus = 0.2g

          = 0.2 × 260,000

          = $52,000

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